Volt to sell for $41K, lease $350 a month

CNN reported that General Motors announced its Chevrolet Volt electric car will cost $41,000 when it goes on sale in November.

While the price is about $8,000 more than the Nissan Leaf, GM said it will offer a $350-per-month lease deal that’s essentially equal to the Leaf’s.

Both cars also are eligible for a federal tax credit that will cut their prices by $7,500. The Volt would fall to $33,500 while the Leaf’s would drop to $25,280 from nearly $33,000.

Some states, such as California, Georgia and Oregon, offer additional tax breaks that lower the price further.

Powered by a lithium-ion battery pack, the Volt will be capable of traveling up to 40 miles on purely electric power. For driving beyond 40 miles, the Volt will have a four-cylinder gasoline engine that will generate electricity to power the wheels 300 miles.

GM’s lease deal is $350 a month for 36 months with $2,500 down. Nissan’s lease plan is $349 per month for the same length of time with $1,995 down.

GM will unveil the Volt first in California, then in New York, New Jersey, Connecticut, Washington, D.C., Michigan and Texas. The cars will first be sold through 600 Chevrolet dealers. But in 12 to 18 months, dealers nationwide should offer the cars.

Nissan’s Leaf, which goes on sale in December, can go up to 100 miles on a charge. The car doesn’t have a gas engine and must be recharged once its battery is depleted.